Mark Garman (1976) quite aptly coined the phrase “market microstructure” as the title of an article about market making and inventory costs. The phrase became a descriptive title for the investigation of the economic forces affecting trades, quotes and prices. Our review covers not only what research has had to say about the nature of transaction prices, but also the broader literature on the i...

this comparative study investigates the iranian exporters and the u.s. importers perception of persian carpet branding strategy in the u.s. market. wong and merrilees conceptual model of international branding strategy (2007) is used as the base model. two separate models for these communities are extracted. results indicated that the two models are different together and with the base model du...

A novel numerical method at the microscale for studying the mechanical behavior of an aluminum-particle-reinforced polytetrafluoroethylene (Al/PTFE) composite is proposed and validated experimentally in this paper. Two types of 2D representative volume elements (RVEs), real microstructure-based and simulated microstructures, are established by following a series of image processing procedures a...

Models of market microstructure tell us that a spread is necessary to compensate market makers for order processing costs, inventory risk, and adverse selection. Since entry into market making is relatively easy on the Nasdaq dealer market, and the New York Stock Exchange (NYSE) specialist faces competition from public liquidity suppliers as well as from regional exchanges, competition should a...